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1/11/17
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In another year-end multifamily acquisition, The Bascom Group LLC has acquired the Redlands Apartments, a 280-unit, Class A apartment community located in the affluent Stone Oak submarket of San Antonio.
The property consists of 15 residential buildings and one stand-alone leasing center spread across more than 26 acres. The unit mix is comprised of 42% one-bedroom units, 45% two-bedroom units, and 13% three-bedroom units. Community amenities include a fitness center, swimming pool, volleyball and basketball courts, BBQs, picnic areas, a children’s playground, a pet park, and a clubhouse with a business center.
San Antonio is home to many businesses across a diverse array of industries including medical, financial, technology, data management, manufacturing, sustainability, aviation, defense, retail, office and transportation. As San Antonio continues to offer an elite quality of life relative to other U.S. cities, the MSA continues to induce corporate relocations, company expansions, and commercial development. This economic growth and limited apartment supply is expected to continue to strengthen multifamily fundamentals in San Antonio.
Debt financing was arranged by De’On Collins, John Brownlee and Charles Halladay of HFF. James D’Argenio sourced and managed the acquisition for Bascom.
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